UniformCustomsandPracticeforDocumentaryCredits(1993Revision)A.GENERALPROVISIONSANDDEFINITIONSArticle1.ApplicationofUCPTheUniformCustomsandPracticeforDocumentaryCredits,1993Revision,ICCPublicationNo.500,shallapplytoalldocumentaryCredits(includingtotheextenttowhichtheymaybeapplicable,StandbyLetter(s)ofCredit)wheretheyareincorporatedintothetextoftheCredit.Theyarebindingonallpartiesthereto,unlessotherwiseexpresslystipulatedintheCredit.Article2.MeaningofCreditForthepurposesoftheseArticles,theexpressions"DocumentaryCredit(s)"and"StandbyLetter(s)ofCredit"(hereinafterreferredtoas"Credit(s)"),meananyarrangement,howevernamedordescribed,wherebyabank(the"IssuingBank")actingattherequestandontheinstructionsofacustomer(the"Applicant")oronitsownbehalf,i)istomakeapaymenttoortotheorderofathirdparty(the"Beneficiary"),oristoacceptandpaybillsofexchange(Draft(s))drawnbytheBeneficiary,orii)authorizesanotherbanktoeffectsuchpayment,ortoacceptandpaysuchbillsofexchange(Draft(s)),oriii)authorizesanotherbanktonegotiate,againststipulateddocument(s),providedthatthetermsandconditionsoftheCreditarecompliedwith.ForthepurposesoftheseArticles,branchesofabankindifferentcountriesareconsideredanotherbank.Article3.Creditsv.Contractsa.Credits,bytheirnature,areseparatetransactionsfromthesalesorothercontract(s)onwhichtheymaybebasedandbanksareinnowayconcernedwithorboundbysuchcontract(s),evenifanyreferencewhatsoevertosuchcontract(s)isincludedintheCredit.Consequently,theundertakingofabanktopay,acceptandpayDraft(s)ornegotiateand/ortofulfillanyotherobligationundertheCredit,isnotsubjecttoclaimsordefensesbytheApplicantresultingfromhisrelationshipswiththeIssuingBankortheBeneficiary.b.ABeneficiarycaninnocaseavailhimselfofthecontractualrelationshipsexistingbetweenthebanksorbetweentheApplicantandtheIssuingBank.Article4.Documentsv.Goods/Services/PerformancesInCreditoperationsallpartiesconcerneddealwithdocuments,andnotwithgoods,servicesand/orotherperformancestowhichthedocumentsmayrelate.Article5.InstructionstoIssue/AmendCreditsa.InstructionsfortheissuanceofaCredit,theCredititself,instructionsforanamendmentthereto,andtheamendmentitself,mustbecompleteandprecise.Inordertoguardagainstconfusionandmisunderstanding,banksshoulddiscourageanyattempti)toincludeexcessivedetailintheCreditorinanyamendmentthereto;ii)togiveinstructionstoissue,adviseorconfirmaCreditbyreferencetoaCreditpreviouslyissued(similarCredit)wheresuchpreviousCredithasbeensubjecttoacceptedamendment(s),and/orunacceptedamendment(s),b.AllinstructionsfortheissuanceofaCreditandtheCredititselfand,whereapplicable,allinstructionsforanamendmenttheretoandtheamendmentitself,muststatepreciselythedocument(s)againstwhichpayment,acceptanceornegotiationistobemade.B.FORMANDNOTIFICATIOINOFCREDITSArticle6.Revocablev.IrrevocableCreditsa.ACreditmaybeeitheri)revocable,orii)irrevocable.b.TheCredit,therefore,shouldclearlyindicatewhetheritisrevocableorirrevocable.c.IntheabsenceofsuchindicationtheCreditshallbedeemedtobeirrevocable.Article7.AdvisingBank'sLiabilitya.ACreditmaybeadvisedtoaBeneficiarythroughanotherbank(the"AdvisingBank")withoutengagementonthepartoftheAdvisingBank,butthatbank,ifitelectstoadvisetheCredit,shalltakereasonablecaretochecktheapparentauthenticityoftheCreditwhichitadvises.IfthebankelectsnottoadvisetheCredit,itmustsoinformtheIssuingBankwithoutdelay.b.IftheAdvisingBankcannote...
